KazKommertsBank
Kazkommertsbank repays $600 ml syndicated loan
(SRI) - Kazkommertsbank (KKB) repaid a syndicated loan of USD 600 million on September 4, 2008, the bank said in a statement.
Kazakhstan Business and Economy Roundup - July 10, 2008
Recessionary trends still continue in the Kazakh banking sector
(Interfax) - Ekaterina Trofimova, a credit analyst of Standard & Poor’s international rating agency, says that the situation in Kazakhstan is not changing to the better and may even aggravate.
Uzbekistan and Kazakhstan reach water agreement, discuss new gas deal
(Turkish Weekly) - An important agreement covering the release of water on the Syrdarya River has been reached.
Kazakhstan Temir Zholy JSC summed up half year results
(Kazinform) - “Income for the first six months of 2008 was KZT 208.6 bln which is 16% higher than the last year. Cargo turnover for the first half-year has increased 10.2%.”
Fitch affirms BTA Bank’s ratings; highlights downward pressure on individual rating (SRI)
Fitch affirmed Kazkommertsbank’s ratings at ‘BB+’ downward pressure on ‘C/D’ individual rating (SRI)
Housing prices in Kazakhstan down in June (SRI)
Developers plan $1.5 Billion resort casino for Kazakhstan (SRI)
Kazakhstan will supply wheat to Kyrgyzstan despite the export ban (AgriMarket.info)
National Bank of Kazakhstan: Exchange rates July 10, 2008 (Kazinform)
Indicators - July 9, 2008 (Reuters)
Fitch affirmed Kazkommertsbank’s ratings at ‘BB+’ downward pressure on ‘C/D’ individual rating
(Fitch Ratings) - Fitch Ratings has today affirmed Kazakhstan-based Kazkommertsbank’s (KKB) ratings at Long-term foreign currency Issuer Default rating (IDR) ‘BB+’, Short-term IDR ‘B’, Long-term local currency ‘BBB-’ (BBB minus), Short-term local currency IDR ‘F3′, Individual ‘C/D’, Support ?’ and Support Rating Floor ‘BB+’. The Outlooks for both Long-term IDRs remain Negative.
Kazkommertsbank - preparation key to surviving crisis
Kazkommertsbank initially established itself as Kazakhstan’s largest corporate lender, but the 2007 crisis forced it into an increased focus on its retail business.
Kazakhstan Business and Economy Roundup - June 23, 2008
Marubeni, Kazakhstan to work on emissions projects
(Reuters) - Japan’s Marubeni Corp and Kazakhstan’s Environmental Protection Ministry have signed a pact to jointly promote the development of projects to cut greenhouse gas emissions in Kazakhstan, the Japanese trading firm said on Friday.
Emirates’ Alnair to buy 25 percent of Kazkommertsbank’s shares
(Silk Road Intelligencer) - Alnair Capital Holding has bought an 8 percent stake in Kazkommertsbank and expects the Financial Supervision Agency (FSA) to approve its plan to bring its holdings to 25 percent.
Bank CenterCredit borrows $40 ml from DEG
(Silk Road Intelligencer) - Kazakhstan-based Bank CenterCredit has raised a 5-year $40 ml loan from DEG (Deutsche Investitions- und Entwicklungsgesellschaft), a German development insitution.
Highway to prosperity
(neweurasia.net) - Bob Zoellick used his three-day trip to Kazakhstan to announce a $2.5 billion infrastructure project together with Prime Minister Massimov - a long planned trade corridor linking China and Europe by road.
Nazarbaev suggests elevating status of Kazakh-Japanese economic cooperation (Interfax)
Syrdarya Control & Northern Aral Sea Phase 2 Project to commence in 2009 (Interfax)
Kazakhstan, Hungary governments to develop economic cooperation (Kazakhstan Today)
Belarus ratifies agreement with Kazakhstan, Russia on coordinated policy on sanitary measures (Kazinform)
Kazakhstan’s joining the CGIAR to be discussed in Astana (Kazinform)
National Bank of Kazakhstan: Exchange rates June 21, 22, 23, 2008 (Kazinform)
Indicators - June 20, 2008
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.
Emirates’ Alnair to buy 25 percent of Kazkommertsbank’s shares
Alnair Capital Holding has bought an 8 percent stake in Kazkommertsbank and expects the Financial Supervision Agency (FSA) to approve its plan to bring its holdings to 25 percent.
Kazakh banks’ post-crisis potential
Some Kazakh banks are better situated than others to weather the current domestic crisis. The levels of exposure to the main source of risk, foreign debt financing, differ greatly among the banks, and may prove to be the deciding factor in their further growth.
